1,400 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Hillcrest Wealth Advisors NY LLC

Hillcrest Wealth Advisors NY LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,400 shares of the company’s stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Capital International Investors grew its position in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC grew its position in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Norges Bank bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp grew its position in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after buying an additional 343,837 shares during the last quarter.

GE Vernova Price Performance

GEV stock opened at $486.41 on Friday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The business has a fifty day moving average price of $425.55 and a 200-day moving average price of $370.90. The stock has a market capitalization of $132.76 billion, a P/E ratio of 70.09, a P/E/G ratio of 3.78 and a beta of 1.97.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GEV shares. Royal Bank Of Canada cut their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. The Goldman Sachs Group lifted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Jefferies Financial Group lowered GE Vernova from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. Finally, Bank of America lifted their price target on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $413.39.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.